Pittsburgh UJF IEA Loan Fund Approves Seven Additional Loans To Karmiel-Misgav Businesses In The Amount Of $262,758. The new aid to area businesses will help protect some 50 existing jobs and create 13 new positions; the "IEA Loan Fund" operates in cooperation with the Pittsburgh UJF, the Jewish Agency for Israel and Bank Otsar Hahiyal.

The Israel Emergency Appeal was created last year by the United Jewish Federation of Pittsburgh and the Jewish Agency for Israel, as an aid fund for small and medium sized business negatively affected by the security situation in Israel and the region, or for new businesses. The fund provides eligible businesses with guaranteed loans of up to $75,000 at terms better than those available in regular commercial loans. The fund is managed by three representatives of the public from the Karmiel- Misgav region, a representative from the Jewish Agency and from the Bank Otsar Hahiyal. The fund is headed by Zvi Pe'er from Yuvalim.

One of the companies to receive IEA assistance is Degmey Ha'galil Ltd. (Galilee Models) from the residential community of Michmanim in the Misgav Regional Council. The company manufactures industrial models, moldings for plastic components and limited production runs (short orders) for the plastics industry. Among the new and innovative products developed at Degmey Ha'galil are unique joystick handles for flight similators, scaled models of electrically powered vehicles for Afikim Electric MobilizersTM and model boats for Israel Shipyards Ltd.

"After I moved from the center of the country, I decided that I would establish my company here in the Galilee, inspite of the the marketing limitations", said Yehiel Notman, the company's owner. "The IEA Loan Fund gave me the initial start, providing me with swift help, without a lot of beauracracy and allowed me to establish a company that today provides employment to additional residents from the region."

According to the loan fund's chairman, Zvi Pe'er, in the past two months the loan fund has approved 15 applications, distributing a total amount of nearly $700,000. He also noted that recently that an increased number of area businesses have expressed interest in the loan fund and many are in the application process prior to a discussion by the loan committee. Interested businesses are invited to turn to MATI Lev Hagalil at 04-9885618 or T.T.I. Consultants at 052-8708012.

For Additional Details: Amir Yarchi, JAFI Northern Region Press Spokesman, +972-(0)528-991745